The global market for ex equipment is growing thanks to a combination of five major influences, according to a new market report from Decision Databases.
In its analysis of the sector through to the year 2022, the market research firm ranks the oil and gas industry as the leading segment for ex equipment.
Exploration of new mining sites is one of the five trends leading to future growth in explosion-proof equipment worldwide.
Growing concern about the safety of existing plants is also contributing, as more premises adopt modern explosion-proof equipment to raise safety standards.
Stiffer safety regulations are adding to this general concern, creating a legal demand for ex equipment too.
Along with these three trends, modern technology is leading to more explosion-proof equipment installations, including two separate influences due to greater automation, and ex equipment with wireless capabilities.
Just two restraints on the market are identified – both of which could be easy to overcome – including a “disparate standardisation process” and ongoing amendments to safety regulations.
Both of these arguably make it even more important to invest in modern ex equipment, offering the best chance of a future-proof installation as regulations and standardisation continue to evolve.